JACKSON - Motorists shouldn't be getting complacent about pump prices that have been dropping for eight straight weeks.
Just days before the kickoff of the heavy summer driving season, there are signs that retail gasoline prices are on their way up again.
Crude oil prices, which account for about 40 percent of the price at the pump, hit their highest level in four weeks Tuesday. And retail demand continues to rise, according to the U.S. Department of Energy.
"We're also seeing sort of a roller coaster effect as far as inventory," said Mike Right, public affairs vice president for auto club AAA. "We're going into the high-demand period with a much lower supply this year than last year. So, I don't look for these prices to hang around."
In Mississippi, the statewide average price for a gallon of self-serve regular unleaded gas was $1.388 Wednesday, down 14.9 cents from a month ago and 24.2 cents lower than the record price of $1.63 on March 14.
The nationwide average price for regular unleaded gas was $1.496 Wednesday, down 10.6 cents from the month before and 22.6 cents lower than the record high of $1.722 on March 18 - just two days before the war with Iraq began.
The highest average price was $1.897 in California. Georgia recorded the lowest price in the nation, $1.301. A check of other Southern states showed regular unleaded selling Wednesday for $1.375 in Alabama, $1.397 in Arkansas, $1.388 in Louisiana, $1.394 in Tennessee and $1.284 in Texas.
Despite the steady price decline, motorists should brace for higher prices going into the three-day Memorial weekend. That's the traditional kickoff of the summer driving season when heavy demand drives pump prices up 5 to 15 cents.
Last year, pump prices averaged about $1.392 a gallon from June through August. This year - even with the dramatic decline since March - pump prices remain about 10 cents higher than 2002 going into the summer season. The Energy Department has projected that 2003 summer prices will average $1.50.
Two Jackson-area service stations - Watkins Shell in Jackson and Obie's Chevron in Clinton - say they haven't seen an increase in wholesale prices yet. Both stations Wednesday were selling regular unleaded gas for $1.299, less than the Jackson-area average price of $1.311.
"Our prices have been going down," said E.C. Chapman, assistant manager of Obie's Chevron.
But other stations around the state say wholesale prices began climbing within the last week, and they will soon have to pass on the price increases to consumers.
"Prices have gone up 6 cents since delivery of our last load," said Linda Griffin, owner of Griffin's Parkside Exxon in Gulfport. Griffin said her price for regular unleaded Wednesday was $1.41, but she will have to raise it.
Cousins Texaco in Holly Springs was selling regular unleaded for $1.34 last year; Wednesday, the price had gone up to $1.399.
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